Solas Capital Management LLC Trims Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Solas Capital Management LLC lowered its holdings in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 96.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,818 shares of the company's stock after selling 699,460 shares during the quarter. Kyndryl makes up 0.6% of Solas Capital Management LLC's portfolio, making the stock its 18th biggest position. Solas Capital Management LLC's holdings in Kyndryl were worth $928,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of KD. Millstone Evans Group LLC acquired a new position in shares of Kyndryl during the fourth quarter valued at about $35,000. Picton Mahoney Asset Management purchased a new position in Kyndryl in the 4th quarter worth $38,000. EverSource Wealth Advisors LLC lifted its position in Kyndryl by 35.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company's stock worth $39,000 after acquiring an additional 297 shares during the period. Sandy Spring Bank increased its holdings in shares of Kyndryl by 41.2% in the fourth quarter. Sandy Spring Bank now owns 1,514 shares of the company's stock valued at $52,000 after purchasing an additional 442 shares during the period. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Kyndryl during the fourth quarter worth about $60,000. Institutional investors own 71.53% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on KD. Oppenheimer boosted their price objective on Kyndryl from $37.00 to $43.00 and gave the company an "outperform" rating in a report on Tuesday, February 4th. Susquehanna lowered their price target on shares of Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd.

Kyndryl Price Performance

NYSE:KD traded up $0.61 during trading hours on Tuesday, reaching $32.65. 1,459,403 shares of the company were exchanged, compared to its average volume of 2,050,743. The stock's 50-day moving average is $33.15 and its 200-day moving average is $33.45. Kyndryl Holdings, Inc. has a twelve month low of $19.59 and a twelve month high of $43.61. The firm has a market cap of $7.60 billion, a PE ratio of 59.36, a price-to-earnings-growth ratio of 10.84 and a beta of 1.91. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55.

Insider Activity at Kyndryl

In other news, General Counsel Edward Sebold sold 27,500 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $42.83, for a total transaction of $1,177,825.00. Following the transaction, the general counsel now directly owns 132,818 shares in the company, valued at $5,688,594.94. The trade was a 17.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Vineet Khurana sold 55,465 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $42.81, for a total value of $2,374,456.65. Following the completion of the transaction, the senior vice president now owns 43,877 shares of the company's stock, valued at $1,878,374.37. The trade was a 55.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by corporate insiders.

Kyndryl Profile

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and zCloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.